Anyone gotten Discover to lower rate?

Avatar for fire_bug
iVillage Member
Registered: 03-25-2003
Anyone gotten Discover to lower rate?
1
Wed, 06-10-2009 - 11:22am

A few months ago DH managed to get them to lower our rate, but it's still high. He's been calling about once a month since then with no luck. A couple weeks ago he called and they said that we'll be eligible for a rate reduction after 9 months of on time payments and we were at 8 months. So after the most recent statement came out, he called again. This time they told us that they can only send us a form we have to fill out to request a reduction. We've been told that before but we keep calling and they have reduced it over the phone. DH called last night and the person he talked to said they would send us this form. Since we've heard this before, he decided to try to call back this morning. The person he talked to said they only do rate reductions through this form and that ordinarily we would have a lower rate than this. Then she said that we should probably just wait until September (when it's been 12 months of on time payments) to request a rate reduction.

The form is discouraging because it says you need to have 12 months of on time payments, can't have gotten any rate reductions in 12 months and a couple of other things. That being said, I was told about 6 months ago that 95% of the people who take the time to fill out the form get their rates reduced.

I feel so stuck because our credit sucks so we can't get a decent balance transfer option and the high interest rate is killing us.

I'm just wondering if anyone else has had luck recently getting them to lower your rate. If so, we'll keep trying. If not, we'll start sending in the form every month until they do something.

Photobucket





babies




Photobucket
iVillage Member
Registered: 11-14-2008
Wed, 06-10-2009 - 12:26pm

Keep venting, keep calling, keep mailing it in. I hope they get good and tired of you and finally do something. Good luck!